Chana rises by 0.9% on lower output concerns

Rising for the second day, chana prices rose further by 0.94% to Rs 4,079 per quintal in futures trade today as speculators enlarged positions amid concerns over lower output due to unseasonal rainfall in key producing areas.

At the National Commodity and Derivatives Exchange (NCDEX), chana for delivery in May rose by Rs 38, or 0.94%, to Rs 4,079 per quintal with an open interest of 1,14,050 lots.

Also, the commodity for delivery in June was trading higher by Rs 36, or 0.88%, at Rs 4,144 per quintal in 70,060 lots.

Analysts attributed the rise in chana futures to concerns over lower output due to unseasonal rainfall in key producing areas.